Traders bought shares of Activision Blizzard, Inc (NASDAQ:ATVI) on weakness during trading on Wednesday. $50.49 million flowed into the stock on the tick-up and $33.51 million flowed out of the stock on the tick-down, for a money net flow of $16.98 million into the stock. Of all stocks tracked, Activision Blizzard had the 32nd highest net in-flow for the day. Activision Blizzard traded down ($0.16) for the day and closed at $61.50

Several brokerages have recently weighed in on ATVI. Piper Jaffray Companies restated an “overweight” rating and set a $65.00 target price on shares of Activision Blizzard in a research note on Tuesday, July 18th. Argus restated a “buy” rating and set a $70.00 target price (up from $65.00) on shares of Activision Blizzard in a research note on Wednesday, August 16th. Vetr downgraded Activision Blizzard from a “strong-buy” rating to a “buy” rating and set a $67.48 target price for the company. in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. raised their target price on Activision Blizzard from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, June 22nd. Finally, BidaskClub downgraded Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $65.33.

The stock has a market cap of $46.43 billion, a P/E ratio of 41.53 and a beta of 1.10. The company’s 50 day moving average is $63.81 and its 200 day moving average is $58.93.

In other news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $61.32, for a total transaction of $1,211,744.52. Following the transaction, the chief executive officer now directly owns 48,472 shares in the company, valued at $2,972,303.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dennis M. Durkin sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $60.68, for a total transaction of $9,708,800.00. Following the transaction, the insider now owns 337,534 shares in the company, valued at $20,481,563.12. The disclosure for this sale can be found here. Insiders have sold 4,074,879 shares of company stock worth $252,196,001 over the last quarter. 2.12% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Shine Investment Advisory Services Inc. acquired a new position in shares of Activision Blizzard during the second quarter worth approximately $142,000. Huntington National Bank lifted its position in shares of Activision Blizzard by 122.6% during the second quarter. Huntington National Bank now owns 2,480 shares of the company’s stock worth $143,000 after purchasing an additional 1,366 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of Activision Blizzard by 16.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock worth $150,000 after purchasing an additional 363 shares in the last quarter. Guardian Life Insurance Co. of America lifted its position in shares of Activision Blizzard by 1.9% during the first quarter. Guardian Life Insurance Co. of America now owns 2,671 shares of the company’s stock worth $133,000 after purchasing an additional 51 shares in the last quarter. Finally, Phocas Financial Corp. acquired a new position in shares of Activision Blizzard during the second quarter worth approximately $173,000. Institutional investors own 86.33% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Investors Buy Activision Blizzard, Inc (ATVI) on Weakness” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of international copyright & trademark laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/10/18/investors-buy-activision-blizzard-inc-atvi-on-weakness.html.

Activision Blizzard Company Profile

Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.

Receive News & Stock Ratings for Activision Blizzard Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Activision Blizzard Inc and related stocks with our FREE daily email newsletter.